Legal Question in Business Law in Massachusetts

business purchase

I purchased a landscape business in an oral agreement of $7500 down and 30% of revenue at $1000 per month. It was an addition of my own business The business had finacial trouble and was not profitable (though the revenue was $50,000)and I was unable to make payments. The business has gone out of business and has forced my business to go under. now the seller is threating to sue me. he claimed the business was extemly profitable before purchase, but I learned he had finacial trouble from past employes. I have no money left and am in finacial ruines. he is threating to garnish future wages. His family has money. I do not have money to pay for a lawyer. what can he gain? Can he go after family member stuff? my wages or not alot, is the a minamum amount of money I can to make before wages can be garnished?


Asked on 2/25/08, 10:59 am

1 Answer from Attorneys

Re: business purchase

He can sue you and you can counter sue for misrepresentation of the condition of the business. However, if he sues you he cannot go after someone else unless they were your partner in the business and the business was not incorporated or an LLC.

Assuming you had no partners, you can always file bankruptcy and that will put an end to it all.

Good Luck.

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Answered on 2/25/08, 12:08 pm


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